The Delhi region requires little introduction as the major location for India’s legal system. The Delhi High Court has led the way in terms of becoming paperless; it is reported that it was embracing technology pre-pandemic so was ahead of the game. Under master planning schemes for Delhi, (in part to preserve buildings of historic importance) ‘satellite’ cities of Gurgaon and Noida grew up to form the National Capital Region (NCR) as two of the most important ‘satellite’ cities. Gurgaon has become a key information technology hub and is said to be the third largest financial and banking hub in the country as a result of this. It is also home to India’s largest medical tourism industry.The area generates much of India’s wealth; a large number of corporates and star-ups locate here and many Fortune 500 companies such as Microsoft, IBM, Pepsi and Dell have a presence here. Integrated technology parks and modern office building continue to attract large international businesses, and the influx of foreign money continues to boost the economy. The NCR is home to a skilled workforce, not only in the tech industries but also in government agencies, hospitality and retail. Much of this applies also to Noida whose attractions also include that it is thought to be India’s greenest city with 50% green cover.All of the well-known full-service firms are established here and are ranked in the national ranking tables. Additionally, a number of smaller firms based in this area are listed here.
Banking and finance in India
AK & Partners
AK & Partners‘ Delhi-based banking and finance team is praised for ‘catering to the vacuum in the NCR region‘ whilst still providing a pan-India service’. A team led by ‘stand-outs‘ Anuroop Omkar and Kritika Krishnamurthy is especially focused on advanced fintech matters together with financial regulatory regimes. It advises non-banking finance and banking clients (including new foreign companies) on first time rollouts of credit cards and other payment systems and has a niche in assisting foreign banks to set up payment systems. On the disputes front, it advises on the unfreezing of bank accounts during investigations by various organisations such as the Financial Intelligence Unit.
Practice head(s):
Testimonials
‘AK and Partners is a team of young, dynamic professionals who deliver work with a lot of zeal and skill. The team has always been effectively able to provide cross-border transaction advisory services. The team is very committed, knowledgeable and well connected, helping with the successful closure of transactions.’
‘Anuroop is very dedicated, extremely knowledgeable and well connected. He is approachable and always offers practical advice.’
‘The company is distinguished by the high quality of services provided, fair market prices and strict adherence to deadlines. Research materials cover the entire list of questions raised, and company employees quickly and clearly answer additional questions and provide explanations, all this in English, which is very important for our international business. The team has a wide area of expertise: finance law, banking, corporate and tax law, international tax planning.’
‘Their knowledge around banking, finance and insurance is not just limited limited to India. They managed to provide with a superb handbook for compliance. They also helped us in obtaining license and also have handled few disputes on our behalf.’
‘This is one of the few firms where the number of female members in the team is higher, sometimes double the male strength. Their billing structure is very objective and reasonable.’
‘Anuroop and Kritika as a team give a complete package of practical insight, go-getter attitude, excellent negotiation and communication skills and a network of professionals required to cleanly close a transaction.’
‘Kritika is an excellent deal closer. Anuroop is a born leader.’
‘Most banking and finance practices are concentrated in Mumbai since it is the financial capital. AK and Partners in New Delhi caters to the vacuum in the NCR region. They have a network of lawyers in Mumbai, Bengaluru and other cities to provide pan India support.’
Key clients
FincFriends Private Limited
Zhudao Infotech Private Limited
Credochain Technologies Private Limited
Reeudo Forex Services Private Limited
Work highlights
AKS Partners
The New Dehli-based AKS Partners acts for domestic and international clients on a range of banking matters, with particular expertise in banking litigation and debt recovery processes. It is active in the telecoms, manufacturing, travel, e-commerce, insurance, healthcare and financial services sectors, among others. Sonal Kumar Singh, Anish Jaipuriar and Anshuman Gupta head the team, with Singh recommended for disputes and arbitration and Jaipuriar recommended for corporate and commercial transactions.
Practice head(s):
Sonal Kumar Singh; Anish Jaipuriar; Anshuman Gupta
Key clients
Central Bank of India
National Textile Corporation Ltd.
Axis Bank
Work highlights
- Advised Housing and Urban Development Corporation Ltd on the drafting of pleadings, examination of witnesses, and preparation of written submissions. Appearing before the District Court.
- Advised Engineering Projects (India) Ltd before the Hon’ble High Court of Delhi.
- Advised Airports Authority of India before the Hon’ble Court.
Gravitas Legal
Gravitas Legal‘s relatively new Delhi office is headed by Tanuj Sud who is especially well noted for his project finance expertise. He advises a range of financial institutions and funds in respect of projects in power/energy, infrastructure and hospitality. His experience also encompases the restructuring of debts, hybrid facilities and promoter funding. Ajay Kumar is a principal associate whose experience spans both banking and finance and general corporate.
Practice head(s):
Tanuj Sud
Other key lawyers:
Ajay Kumar
Key clients
State Bank of India
ACCIL Auto Steels Private Limited
Vena Energy Group
HDFC Bank Limited
L&T Financial Services
NIIF Infrastructure Finance Limited
India Infrastructure Finance Company Limited
PNB Housing Finance Limited
ICICI Home Finance Company Limited
Eros Resorts and Hotels Private Limited
Garo Hills Autonomous District Council
Jindal Steel Odisha Limited
PTC India Financial Services Limited
Capital Fortunes Private Limited
Work highlights
- Acting as the Borrower’s Legal Counsel to Vena Energy Fatanpur Power Private Limited that is operating and maintaining a 108 MW wind power project at Fatanpur, Dwas District in Madhya Pradesh and has now availed refinance facility from Indian Renewable Energy Development Agency Limited aggregating Rs. 564,50,00,000 with respect to the project.
- Acting as the Borrower’s Legal Counsel to Jindal Steel Odisha Limited (JSOL) in respect of a project cost aggregating INR 22,468,00,00,000. JSOL has approached State Bank of India for a syndicated rupee term loan facility for an aggregate amount of Rs. 15,727,00,00,000.
- Acting as the Borrower’s Legal Counsel to Garo Hills Autonomous District Council (“GHADC”) which proposes to develop, re-develop, design, finance, construct, operate and maintain seven infrastructural units with an estimated project cost of INR 312 crores with financing from the Bank of India; a rupee term loan facilities aggregating INR 262,00,00,000 backed by corporate guarantee of Government of India.
Sagus Legal
Shruti Kanodia heads up the banking and finance practice at Sagus Legal which acts for an impressive array of clients in areas ranging from technology and manufacturing to power and energy. The team is known for a range of expertise including acquisition finance, debt recovery and restructuring and structured finance. Kanodia is well experienced in financing for consortia of banks.
Practice head(s):
Shruti Kanodia
Key clients
Jindal Stainless Limited
RBL Bank Limited
Petronet LNG Limited
Jindal Coke Limited
Jindal United Steel Limited
PFC Limited
REC Limited
Jindal Stainless (Hisar) Limited